It depends on your personal requirements and circumstances.
The level of cover is the amount of money that you choose
to insure your life for. This is how much the Insurance Company will pay
out to your spouse or other nominated family member if you die.
You can choose to take out Life Insurance for any amount,
but obviously, the higher your cover the higher your premium will be.
If you are looking for a high level of insurance, you should be aware
that the Insurance Company is likely to seek additional medical information.
If your Life Insurance is associated with your mortgage,
then you will want cover for the same amount of money as is outstanding
on your mortgage. Then the entire mortgage will be paid off if you die.
Remember that if you want to cover your monthly mortgage
payments in case you are off work because of illness, accident or unemployment
you should take out Mortgage Payment Protection Insurance.
You may also want to think about Critical Illness
Cover. This will provide a lump sum to repay your mortgage or
for another purpose if you become seriously ill.